Canadian Employment - October 9, 2015
Canadian employment increased rose by 12,000 jobs in September, matching the rate of job creation in August. The national unemployment rate ticked higher by 0.1 points to 7.1 per cent as more people actively searched for work. Part-time employment accounted for all of September's gains while full-time work declined. In spite of the decline in full-time employment, total hours worked, which is strongly correlated with economic growth, increased by a relatively strong 1.1 per cent compared to September 2014.
In BC, a strong economy has lead to an increased rate of job creation. The province added 12,400 new jobs in September, including 10,600 full-time positions. The provincial unemployment rate rose 0.3 points to 6.3 per cent as BC's economic performance has attracted new entrants to the labour force from both inside and outside of the province. Year-to-date, employment in BC is up just 0.8 per cent but has risen at a rate of 1.7 per cent over the past three months. For more informationon on housing or market conditions, please contact me anytime.
Have a safe long weekend.